BoE faces TSC accountability probe

Laura Miller
clock

The Treasury Select Committee (TSC) has launched an inquiry into the Bank of England's (BoE) accountability before its powers are extended in the government's regulatory shake-up.

The government's plans will extend the responsibilities of the Bank to include monitoring financial stability and taking action against threats to that stability. MPs want the BoE to explain what kind of decisions should made by each body when the Prudential Regulation Authority (PRA), becomes a subsidiary of the Bank in 2012. The TSC also wants to know to whom the Bank should be accountable, and if different accountability mechanisms are needed for its different functions. Other parts of the inquiry will look at the relationship between the Bank and Court of the Bank of England...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advisers overlooking younger clients over asset value bias

Advisers overlooking younger clients over asset value bias

'Young people need to have access to trusted advice'

Sahar Nazir
clock 22 March 2024 • 1 min read
Financial advice crucial as near-term challenges remain

Financial advice crucial as near-term challenges remain

'A good IFA has rarely been more valuable'

Ahmed Bawa
clock 22 March 2024 • 4 min read
Feel Good Friday: Influencers back financial charity's campaign

Feel Good Friday: Influencers back financial charity's campaign

Financial influencers to support MyBnk’s Global Money Week campaign

Professional Adviser
clock 22 March 2024 • 1 min read